What BFCSA Does...

BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide. Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years. For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams. She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

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BFCSA Blog

Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

Posted on November 30, 2014 by Lambert Stretherhttp://www.nakedcapitalism.com/2014/11/australia-haven-bank-control-frauds.htmlFirst Published on Macrobusiness http://www.macrobusiness.com.au/2014/11/australia-haven-for-bank-control-frauds/Lambert here: Et tu, Australia? For the connoisseur of accounting control frauds, sadly, Australia may provide a valuable parallel case in a second member of the Five Eyes. I wonder if the Australians will manage to prosecute any CEOs?
By Paul Egan and Philip Soos, co-authors of Bubble Economics: Australian Land Speculation 1830 – 2013. Originally published at Macrobusiness.
Exuberant household credit growth over the last twenty years has a sinister dimension: the likelihood of widespread predatory lending and bank fraud. Every developed country, including Australia, has laws to regulate and hopefully prevent predatory lending, defined as providing credit to a borrower in full knowledge they lack the capacity to repay it in a timely manner, if at all.
Relevant laws and regulations stipulate loan amounts must not exceed the assessed debtor repayment capacity, based on their assessed wages and other income. Lenders have an obligation to...